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Webinar

How To Use Hicks Law For CRO Success

Duration - 45 minutes

Key Takeaways

  • Implement the PIE model for prioritization: This model considers Potential, Importance, and Ease to help you determine what to tackle first and what can be done with less effort.
  • Engage in iterative testing to improve conversion rates: Prioritize and move forward with testing to get people to convert at a higher rate.
  • Utilize the provided CSV file for categorizing and tracking aspects of your business: This includes URLs for testing, statuses of different tasks, main metrics to track, and page locations.
  • Connect with the speaker for further guidance: Don't hesitate to reach out to the speaker with any questions or for further insights.
  • Embrace a "fail fast and fail often" mindset: This approach allows you to learn quickly from your mistakes and make necessary adjustments.

Summary of the session

The webinar, hosted by Vipul from VWO, featured Darrell Williams, Founder of Growth Hack Guides, discussing the application of Hicks Law in UX Design to boost conversion rates. Darrell emphasized the importance of high-velocity testing, stating that the more elements tested, the higher the chances of conversion. However, he stressed that quality should not be compromised for quantity. He also highlighted the significance of segmentation in testing, suggesting that personalized experiences can lead to higher conversion rates. 

Darrell encouraged attendees to utilize VWO’s tools to understand their users better and improve their conversion rates. Vipul concluded by sharing a link to Darrell’s blog on the same topic and encouraging attendees to share their experiences.

Webinar Video

Webinar Deck

Top questions asked by the audience

  • I've worked with a lot of small and medium-sized businesses. And so how can you get that kind of test velocity of 4 plus tests in a month when their traffic isn't to that level, right? Like, so many of them just don't. So, when I'm seeing 68%, I don't think 68% of businesses have enough traffic to run you know, that much even if they wanted to. And then adjacent to that would be, let's say you're a step ahead where you have the traffic to be able to do it, but your revenue might not be enough to take that many losses, right? So unless you're getting a lot of parity, if you're getting if you're taking a lot of losses, that's hitting the bottom line with CRO. So, yeah, I was just wondering how having a high test velocity would be able to, work in that kind of real-world scenario.

    - by Cheeka
    Yeah. Absolutely. So a lot of times whenever a quick client, to be able to get that certain amount of traffic, is primarily been on the paid side to where you can control to be able to have the certai ...n amount of volume to actually quantify certain things towards, hitting certain statistical significance with your test. And also to your point, as far as being able to achieve that bottom line, it's really about investing more in your SEO as well because that's the only way that you're actually gonna get traffic over time. And yes, it's time-consuming, but usually, to answer your question, it's been on the paid side of things to be able to account for that.
  • Would small businesses have a budget for it?

    - by Cheeka
    Right. So usually the businesses that I work with have the budget to be able to, invest in doing the high-velocity testing because I go and show different case studies, showing them how it can actuall ...y move the needle for them and have different, data to back it up so they are willing to invest in doing it. So if you don't necessarily have the budget from what I'm hearing, to be able to invest in the high-velocity testing, you can also leverage intelligence tools. You can leverage what people are doing with certain variations of traffic that they're currently running. And you can start to kind of leverage certain queues of what they're running versus what you can run yourself, but it would just take longer to actually get those more quantifiable metrics. When I say intelligence tools, there are tools that can show you this person is running paid traffic to this landing page, and maybe that specific business that's running that traffic to that landing page, and maybe they have TPC traffic or organic traffic, it coincides with your business model, and you could take certain queues and you could set up different variations on your own without actually investing in the certain budgets towards, like, you know, initially doing it with the paid media efforts, but you're leveraging their data with all their different test iterations that they're doing actively, and you're just applying it, but you just have to have to wait over time to where you either build up the budget to do the investment paid or build up your organic traffic. So I would really implore you to kinda leverage the different iteration processes that people are doing from that insight that you can glean from different third-party tools if that makes sense.
  • What does ‘P’ in P.I.E. stand for?

    - by Cheeka
    Oh, potential. So as I was, saying, potential or the high investment test whether it requires development, or UX design, certain aspects that are going to just create more of a process towards you act ...ually creating a specific variation. And then again, going through the other two, ‘I - important’, what do you wanna tackle sooner than layer later that has a lower level, and ‘E- ease’, what you can do yourself.

Transcription

Disclaimer- Please be aware that the content below is computer-generated, so kindly disregard any potential errors or shortcomings.

Vipul from VWO: Good morning. Good afternoon. Good evening to everyone who’s joined in, to listen to this amazing presentation. The name you can see already in front of you on the screen. So we’ll talk about i ...